KNM GROUP BHD

KLSE (MYR): KNM (7164)

You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!

Last Price

0.05

Today's Change

0.00 (0.00%)

Day's Change

0.05 - 0.055

Trading Volume

1,331,600


69 people like this.

56,712 comment(s). Last comment by ocbc 1 day ago

hoot9e996

1,663 posts

Posted by hoot9e996 > 1 month ago | Report Abuse

alam and knm same day announced PN17
alam didnt drop so much cuz already dropped sooo much before announcement

xiaoeh

220 posts

Posted by xiaoeh > 1 month ago | Report Abuse

calling sardin callibg sardin

hunterz86

113 posts

Posted by hunterz86 > 1 month ago | Report Abuse

Haiya... In the midst of O&G trend also can call PN17...

maxprofit2020

1,122 posts

Posted by maxprofit2020 > 1 month ago | Report Abuse

where is general sardin ?

Posted by Macgyver111 > 1 month ago | Report Abuse

Sardin rest in tin

VTrade

2,352 posts

Posted by VTrade > 1 month ago | Report Abuse

Serba

mikeann

780 posts

Posted by mikeann > 1 month ago | Report Abuse

Panic selling of stock seems overdone today.

Stock seems grossly oversold.

There may be a small rebound tomorrow.

Michael Kwok

4,933 posts

Posted by Michael Kwok > 1 month ago | Report Abuse

Price 4 cents
No.downgrade to below 2 cents
Y its sharp drop,because 9.5 cents support break.the next 2 days cant go above it(friday and monday)
2/11/22 12.08pm

Posted by whistlebower99 > 1 month ago | Report Abuse

Classified as PN17

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : FIRST ANNOUNCEMENT | https://www.klsescreener.com/v2/announcements/view/3630959

Posted by Harimaukecik > 1 month ago | Report Abuse

No run die.....ran one died faster lor

Posted by hohlaiyet88 > 1 month ago | Report Abuse

Yes, run will died faster as capital dropped a lot. Hope the main shareholders like Tengku & MAA can do somethings. Sell also rugi a lot. Then temporary no eye see lor.

Posted by smartmove100 > 1 month ago | Report Abuse

2-3sen if not 1 sen...

nabeh

51 posts

Posted by nabeh > 1 month ago | Report Abuse

General Sardin has successfully trapped us and Tengku with his Borsig stories. As for General Lee, he had the last laugh and now celebrating with General Sardin. Never invest in the company whose had no intention to act in the best interest of the shareholders. Lesson learned though it was an expensive lesson!

mansaham1972

1,105 posts

Posted by mansaham1972 > 1 month ago | Report Abuse

Masuk harga 4 sen pagi2,tengok apa jadi nanti

Posted by Harimaukecik > 1 month ago | Report Abuse

mansaham1972, kaya la kali ni, sudah naik 5c

Posted by success2628 > 1 month ago | Report Abuse

Walaoeh, oil price continue to spike up like mad !
Brent closed at=> $96.16 +1.51 +1.69 %

Like that today KNM will be limit up already liao lah !

Congratulations to all the KNM die hard supporters!

Vhydro

1,411 posts

Posted by Vhydro > 1 month ago | Report Abuse

So Zai Success2628

Posted by Harimaukecik > 1 month ago | Report Abuse

today no show

GoldenShares

3,474 posts

Posted by GoldenShares > 1 month ago | Report Abuse

pity ikan bilis !

8899EL8899

1,973 posts

Posted by 8899EL8899 > 1 month ago | Report Abuse

LOOK LIKE KNM WILL GO FOR SHARE CONSOLIDATION 10 TO 1,........& RIGHT ISSUE AGAIN

Posted by Proff P... > 1 month ago | Report Abuse

where are KNM supporter like Sardin/masterkervin/bearbear/mabel/patua? Any one have any idea when sales of Borsig will completed? and Listing of FBM Hudson will begin? Thanks

chimchim

184 posts

Posted by chimchim > 4 weeks ago | Report Abuse

Um...but Reach still survive PN17. Is it the counter too small to even get noticed?

Citadel666

515 posts

Posted by Citadel666 > 4 weeks ago | Report Abuse

I REMEBERED GOT ONE DIE HARD SUPPORTER NAME SARDIN, MANA HIM NOW??? NO MORE BORSIG????

Holy Cow

57 posts

Posted by Holy Cow > 4 weeks ago | Report Abuse

Director run already.

Posted by smartmove100 > 4 weeks ago | Report Abuse

game over.. just run lah....

Posted by hohlaiyet88 > 3 weeks ago | Report Abuse

If directors useless and not capable then better replace someone can manage not just enjoy the directors fees......

Posted by Proff P... > 3 weeks ago | Report Abuse

ONCE touted as the darling of investors, KNM Group Bhd finds itself in the league of distressed companies after it slipped into the Practice Note 17 (PN17) category.

Its shares plunged to five sen each, current liabilities have exceeded current assets and the group foresees itself returning to profitability only in the next “two to three years”.

Cash crunch issues are also limiting KNM from taking on more new projects.

The root cause of the quagmire plaguing KNM could be traced back to the series of acquisitions the group made many years ago.

The acquisitions, despite injecting good assets into KNM, had over-leveraged the group and by the time the Covid-19 pandemic hit, KNM’s cash generation was no longer able of meeting the high debt levels.

The current line-up of board members, who are onboard since the second half of last year, recognise the urgent need to de-leverage KNM.

This includes the single largest shareholder, Datuk Tunku Yaacob Khyra, who controls a 9.4% stake in KNM.

Posted by Proff P... > 3 weeks ago | Report Abuse

They have been working on removing highly-leveraged assets from the group’s books.

KNM is expected to be a cash-rich company with a healthier balance sheet by the end of next year.

Executive chairman Tan Sri Zulhasnan Rafique says KNM would not have slipped into PN17 had the proposed disposal of its entire stake in Borsig GmbH, a German-based process equipment manufacturer, was completed before the deadline of KNM’s financial audit.

“We only secured the shareholders’ approval in September (to sell Borsig). It will take a few months to complete the disposal.

“If the disposal had been completed before end-October, we would have settled the amount owed on the bond we defaulted on earlier. It would have prevented KNM’s current liabilities from exceeding its current assets.

“This triggered the PN17 criteria,” the former Federal Territories Minister tells StarBizWeek.

It is noteworthy that KNM had, in Nov 2021, missed principal and coupon payments on bonds issued in Thailand worth 2.78 billion baht (RM356.8mil).

The bonds are guaranteed by Credit Guarantee and Investment Facility (CGIF), a trust fund managed by the Asian Development Bank.

CGIF has paid the bondholders on behalf of KNM.

“CGIF has been quite patient with us and they have been working with KNM to make sure that the sale of Borsig will go through and from it (the disposal), it will get paid,” he says.

Zulhasnan points out that the disposal of Borsig will “definitely” be completed by next month and that investors should not be worried about the PN17 status.

KNM bought Borsig for €350mil (RM1.65bil) in 2008. It will be selling the subsidiary for €220.8mil (RM1.04bil).

Zulhasnan says KNM will still record a gain from the disposal of Borsig, considering the cashflow of €212.8mil (RM1bil) it has received from the subsidiary over the years.

According to Zulhasnan, about 90% of the “clean-up works” at KNM would be completed, post-Borsig disposal.

In addition to the sale of Borsig, KNM is also looking at selling its waste-to-energy power plant project in Peterborough, the United Kingdom as well as an ethanol plant in Thailand.

“For the Peterborough plant, which is yet to be built but we have the land and all the approvals, we are negotiating with the potential buyer.

“We hope to sell it by the end of next year.

“As for the Thai plant, it should also be completed by end-2023,” he says.

With the sale of the Peterborough, Zulhasnan notes that KNM will be a cash-rich entity, with about RM200mil borrowings.

“And with the listing of FBM Hudson Italiana SpA, we will no longer have any borrowing.

“We will then have an optimal capital base that will allow us to take on more projects in the future,” Zulhasnan points out.

KNM plans to list FBM Hudson Italiana SpA and its wholly owned subsidiary, FBM-KNM FZCO, next year on the Catalist Board of the Singapore Stock Exchange.

“The indicative market capitalisation of the listed entity would be around US$100mil (RM461mil), and KNM will have about 25% stake in it,” he says.

Posted by Proff P... > 3 weeks ago | Report Abuse

Moving forward, the Italy-based FBM Hudson would be a major driver for KNM, according to Zulhasnan.

“Before this, FBM Hudson was not able to bid for some projects because our Borsig was also competing for similar projects.

“With the disposal of Borsig, FBM Hudson would be able to tender for more projects of a bigger scale,” he adds.

It is worth noting KNM had, on Aug 30, proposed to change its name to Hudson Group Bhd to reflect its future direction.

KNM is also banking on one of FBM Hudson’s main products, namely the heat exchangers, as an important engine of growth for the group.

Heat exchangers are used in industrial gas separation processes, typically for the oil and gas (O&G) and petrochemical industries.

“Heat exchangers can also be used for the removal of carbon dioxide.

“As countries are racing towards reducing carbon footprint, there will be a stronger demand for KNM’s heat exchangers in the future.

“Our heat exchangers can be custom-made based on the requirements of our clients or industries.

“This is actually a natural progression for KNM,” Zulhasnan says.

However, Zulhasnan clarifies that KNM is not interested in venturing into renewable energy (RE) businesses, although it welcomes opportunities to supply equipment to industry players involved in RE.

“The decision (by previous management) to go into renewables namely Peterborough (power station) and ethanol (Thai plant) was a distraction they did not need to do.

“It is actually not attractive to go into RE. Socially, it sounds good, but from a financial point of view, a 10% internal rate of return (IRR) as delivered by many RE businesses is not exciting.

“I would rather put the money in the engineering side, where we can have 15% to 25% IRR. We would like to stick to our core business,” he says.

Zulhasnan says KNM has managed to remain resilient, despite the cashflow issues and the PN17 status.

“It is business as usual at our subsidiaries. We are also getting new contracts and queries from prospective customers.

“In fact, in September 2022, Petronas Gas Bhd awarded us an engineering, procurement, construction and commissioning contract worth RM25.69mil.

“If our business is indeed falling apart, customers would not even consider us in the first place,” he says.

Looking ahead, as a player predominantly exposed to the O&G industry, Zulhasnan is upbeat that the pick-up in O&G activities and industry-wide increase in capital expenditure would benefit KNM significantly.

At the same time, KNM plans to strengthen its presence in its existing markets, especially in Malaysia and the Middle East.

This would potentially include a relocation of operations.

“KNM is very famous in Malaysia as one of the best engineering companies in the country. It is time we get it back to where it was before,” he adds.

Yu_and_Mee

3,193 posts

Posted by Yu_and_Mee > 3 weeks ago | Report Abuse

Like the name in Hockkien: KNM stock

Cslee1215

362 posts

Posted by Cslee1215 > 3 weeks ago | Report Abuse

Borsig (belum masak), knm (hantam dia ma), hokkien, ini kali hudson dunno can manage or not. I lose over 90% in this counter, because I forgot to translate the name.

Bullkobear

253 posts

Posted by Bullkobear > 3 weeks ago | Report Abuse

looks like chasing north is more wonderfull as the price is still bottom.

Posted by smartmove100 > 2 weeks ago | Report Abuse

mt target 3-4sen

Bullkobear

253 posts

Posted by Bullkobear > 2 weeks ago | Report Abuse

still looking northern region

calvintaneng

48,879 posts

Posted by calvintaneng > 1 week ago | Report Abuse

PALM OIL (TSH) APPRECIATING ASSETS VERSUS O&G (KNM) DEPRECIATING ASSETS: LAND VERSUS METAL, Calvin Tan

https://klse1.i3investor.com/blogs/www.eaglevisioninvest.com/2022-11-29-story-h-304700139-PALM_OIL_APPRECIATING_ASSETS_VERSUS_O_G_DEPRECIATING_ASSETS_LAND_VERSUS.jsp

Bullkobear

253 posts

Posted by Bullkobear > 6 days ago | Report Abuse

no speculation, bad news is good news.

Posted by Proff P... > 6 days ago | Report Abuse

WELCOME BACK BORSIG..............

Noni

517 posts

Posted by Noni > 6 days ago | Report Abuse

Tipu orang

Vhydro

1,411 posts

Posted by Vhydro > 6 days ago | Report Abuse

OH NO, no money to pay debt.

Vhydro

1,411 posts

Posted by Vhydro > 6 days ago | Report Abuse

See you all at 2 sen

Michael R.

4,343 posts

Posted by Michael R. > 5 days ago | Report Abuse

Hehehe... golden goose finally not sold... !¡!!

yangxi

414 posts

Posted by yangxi > 5 days ago | Report Abuse

new govt will help ?

Vhydro

1,411 posts

Posted by Vhydro > 5 days ago | Report Abuse

Help to close shop

Bullkobear

253 posts

Posted by Bullkobear > 5 days ago | Report Abuse

when are we going to meet again: IPO

RedEmperor

142 posts

Posted by RedEmperor > 4 days ago | Report Abuse

Best is to list BorSig not sell.

Vhydro

1,411 posts

Posted by Vhydro > 4 days ago | Report Abuse

Prior CEOs failed in every moves they wanted to do, UK Peterborough, Thai ethanol plants, listing Borsig and now disposal of Borsig also failed.

Plan banyak, but execution failed. Very incapable

ocbc

389 posts

Posted by ocbc > 1 day ago | Report Abuse

Borsig is back , good, list it in SG .

Post a Comment